Millicom International Cellular (NASDAQ:TIGO) Sees Large Volume Increase – Here’s Why

Millicom International Cellular S.A. (NASDAQ:TIGO) saw unusually-high trading volume on Monday . Approximately 160,779 shares traded hands during trading, a decline of 17% from the previous session’s volume of 194,671 shares.The stock last traded at $30.91 and had previously closed at $30.38.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TIGO shares. HSBC raised Millicom International Cellular from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their target price on shares of Millicom International Cellular from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley initiated coverage on shares of Millicom International Cellular in a report on Wednesday, January 29th. They issued an “equal weight” rating and a $32.00 price target on the stock. Scotiabank boosted their price target on Millicom International Cellular from $37.30 to $37.90 and gave the company a “sector outperform” rating in a research note on Friday, February 28th. Finally, Hsbc Global Res upgraded shares of Millicom International Cellular from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Millicom International Cellular presently has a consensus rating of “Buy” and a consensus price target of $33.98.

Millicom International Cellular Stock Up 2.9 %

The business has a 50 day simple moving average of $27.21 and a 200 day simple moving average of $26.63. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 33.12 and a beta of 1.23. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.66 and a quick ratio of 0.64.

Millicom International Cellular Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a dividend yield of 3.9%. Millicom International Cellular’s payout ratio is currently 202.70%.

Institutional Investors Weigh In On Millicom International Cellular

Institutional investors and hedge funds have recently made changes to their positions in the business. Brandes Investment Partners LP grew its holdings in Millicom International Cellular by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 4,574,255 shares of the technology company’s stock worth $114,402,000 after acquiring an additional 68,061 shares during the period. Southeastern Asset Management Inc. TN purchased a new stake in shares of Millicom International Cellular during the fourth quarter worth about $60,306,000. LB Partners LLC lifted its stake in shares of Millicom International Cellular by 1.4% during the 4th quarter. LB Partners LLC now owns 518,923 shares of the technology company’s stock worth $12,978,000 after purchasing an additional 7,000 shares during the period. Park West Asset Management LLC purchased a new position in Millicom International Cellular during the fourth quarter worth about $6,165,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Millicom International Cellular by 47.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 159,667 shares of the technology company’s stock worth $3,993,000 after acquiring an additional 51,620 shares during the last quarter.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.